Software stocks plunge amid AI-led disruption
Engineer working with statistical analysis report. Digital technology and Artificial Intelligence (AI) concept.
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Wall Street’s fears around artificial intelligence-driven disruption affecting software companies continued to put pressure on global stocks on Wednesday.
In premarket U.S. trade on Wednesday morning, ServiceNow and Salesforce each shed about 0.4%, while Intuit was down by 0.7%. Nvidia extended losses from the previous day, trading 0.3% lower ahead of the opening bell in New York.
During Tuesday’s session, shares of ServiceNow tumbled nearly 7%, pushing its year-to-date losses to 28%. Salesforce also dropped about 7%, bringing its 2026 decline to almost 26%. Intuit, the TurboTax parent, fell…
